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What is the maximum amount of deduction available under Section 80C for individu

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Question: What is the maximum amount of deduction available under Section 80C for individual taxpayers?

Options:

  1. Rs. 1,00,000
  2. Rs. 1,50,000
  3. Rs. 2,00,000
  4. Rs. 50,000

Correct Answer: Rs. 1,50,000

Solution: 

As per the Income Tax Act, the maximum deduction available under Section 80C is Rs. 1,50,000.

What is the maximum amount of deduction available under Section 80C for individu

Practice Questions

Q1
What is the maximum amount of deduction available under Section 80C for individual taxpayers?
  1. Rs. 1,00,000
  2. Rs. 1,50,000
  3. Rs. 2,00,000
  4. Rs. 50,000

Questions & Step-by-Step Solutions

What is the maximum amount of deduction available under Section 80C for individual taxpayers?
  • Step 1: Understand that Section 80C is a part of the Income Tax Act in India.
  • Step 2: Know that Section 80C allows individual taxpayers to claim deductions on certain investments and expenses.
  • Step 3: Remember that the maximum amount you can claim as a deduction under Section 80C is Rs. 1,50,000.
  • Step 4: This means if you invest in eligible options under Section 80C, you can reduce your taxable income by up to Rs. 1,50,000.
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